Boston Partners Purchases 269,476 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Boston Partners lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 453.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 328,843 shares of the semiconductor company’s stock after buying an additional 269,476 shares during the quarter. Boston Partners owned about 0.30% of Tower Semiconductor worth $10,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Tower Semiconductor by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock valued at $126,808,000 after purchasing an additional 64,679 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Tower Semiconductor by 28.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,639,897 shares of the semiconductor company’s stock worth $121,755,000 after buying an additional 816,266 shares during the period. Victory Capital Management Inc. boosted its stake in Tower Semiconductor by 83.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock worth $96,456,000 after acquiring an additional 1,437,535 shares in the last quarter. Jennison Associates LLC boosted its stake in Tower Semiconductor by 28.1% during the first quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company’s stock worth $88,652,000 after acquiring an additional 580,610 shares in the last quarter. Finally, Theleme Partners LLP bought a new stake in Tower Semiconductor in the fourth quarter valued at $67,717,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSEM. Craig Hallum raised their target price on Tower Semiconductor from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of Tower Semiconductor in a research note on Friday, May 10th. StockNews.com lowered shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Finally, Susquehanna raised shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and raised their price target for the company from $36.00 to $55.00 in a research report on Friday, May 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, Tower Semiconductor has an average rating of “Buy” and an average target price of $46.33.

Tower Semiconductor Trading Down 4.4 %

NASDAQ:TSEM traded down $1.71 on Friday, hitting $37.48. The stock had a trading volume of 394,561 shares, compared to its average volume of 607,997. Tower Semiconductor Ltd. has a 1 year low of $21.43 and a 1 year high of $44.18. The firm’s fifty day simple moving average is $39.55 and its two-hundred day simple moving average is $34.94. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $327.24 million for the quarter, compared to analyst estimates of $325.00 million. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. Research analysts forecast that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

Tower Semiconductor Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.